This spring as you are spending your money, keep in mind
the three things money is good for. If I were to ask you what three
things money was good for what would you say? When I am
teaching how to create a winning spending
plan, I always ask this question and get a lot of different answers.
Let me ask it in another way.
The things you do with money, can be put into three categories, what are they?
When I ask this way, I always get similar answers. Answers like It’s good for paying bills, buying stuff, saving, investing, and going shopping.
And then I would say something to the effect of okay, we got spending and saving. What is the third thing? I put investing into the saving category.
It’s interesting because at this point most of my students go blank. Then
I ask again and say ok money is good for three things, spending, saving,
and…? What are the three things we all do with money?
Most of the time I get no response and ask them to think about and move forward with the class.
My point in all of that is to say that it’s okay to spend your money. It’s yours, you earned it, and you should spend it. Its okay to spend your money, but you should also spend it with a plan in mind. My goal is to help you create a spending that helps you spend within some parameters.
What Are the Three Things?
Simply put, money is good for three things: spending, saving, and giving. Interestingly, sometimes when we talk about money, we forget about giving. That is a discussion for another day.
I am a Financial Coach, and I would like to help you navigate your finances and create a winning spending plan for you and your family. Contact me
here, and we will do an assessment and get started improving your finances one GoldneRule at a time. Take care.
This post is a repost from December 2021.